Nokia CEO May Decide Against Selling HERE Maps Unit


Bloomberg reported earlier today that Nokia Corporation (NYSE:NOK) CEO Rajeev Suri could eventually decide not to sell its mapping unit, HERE. The company was reportedly looking to sell the maps division for $3 billion, with several automotive and tech giants in the race to shore up their navigation platforms.

In April, Facebook (NASDAQ:FB) was said to be considering a move to acquire the unit, since it already uses Nokia’s mapping technology to deliver location information on the social network. Ride sharing startup Uber was also involved in talks, along with Chinese search engine Baidu. Meanwhile, Germany’s premier premium automakers, Audi, BMW, and Mercedes are said to have formed a consortium to buy up Nokia’s map unit, in a bid to advanced their autonomous car ambitions.

Mr. Rajeev told Bloomberg that a strategic analysis of the HERE unit was still underway and that no decision had yet been made. Nokia shares rose 1.85% in Tuesday’s trading session.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s